Isis Angels Network membership hits 200

7th August 2014

Membership of the Isis Angels Network has grown to 200 business angels from 10 different countries, Oxford University Innovation has announced. The network introduces angel investors to new spin-out opportunities from Oxford and has been instrumental in the creation of 103 companies.

Oxford University Innovation Seed Fund Manager, Andrea Alunni, who runs the network, said:

‘Investment angels are becoming an increasingly important source of equity finance for Oxford University spin outs. In fact, over the last four years, the number of investments from angel investors has outnumbered investments from seed and venture capital funds.’

The foresight and patience of business angels was also handsomely rewarded during the February purchase of 2001 Oxford University Innovation spin-out NaturalMotion by US-based gaming giant Zynga for US$527m. NaturalMotion received its first £25,000 cash injection pre-incorporation from the Oxford’s University’s Challenge Seed Fund and went on to raise over £2m from investment angels over three funding rounds, one of the largest purely angel fundings in Europe.

A 2014 spin-out OxSonics, was the most recent Isis company to raise angel finance. In January it closed a £2.7m funding round, which included £1.85m from angel investors. Oxsonics, which is commercialising ultrasound-based medical devices for drug delivery and surgical applications, has now received £2.1million from the Technology Strategy Board and has sufficient funds to progress to clinical trials.

Another Isis medical device spinout, Oxtex, has raised a total of £1.4m from business angels through three rounds of investment since its incorporation in 2011. Oxtex is developing devices for plastic surgery, with applications in burns, scar revision, breast reconstruction and cleft palate surgery.

Oxford University Innovation Executive Director Linda Naylor said:

‘The Isis Angels Network has more than doubled over the last five years has been key to our success in supporting new ventures based on University research, and also Isis Software Incubator companies.

‘Often angel investors bring not just capital to an investment, but also personal expertise and an appreciation of the way small technology businesses operate and grow.’

 

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